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Business Combinations (Tables) | 3 Months Ended
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Oct. 27, 2024
Business Combination, Asset Acquisition, and Joint Venture Formation [Abstract] |
Schedule of Business Combinations, Consideration Table [Table Text Block] | Total purchase consideration was $2.899 billion, which was determined as follows:
(Millions) |  |  |
Cash consideration paid to Sovos Brands shareholders(1) |  |  | $ | 2,307
Cash paid for share-based awards(2) |  |  | 32
Cash consideration paid directly to shareholders |  |  | $ | 2,339
Cash paid for transaction costs of Sovos Brands |  |  | 32
Repayment of Sovos Brands existing indebtedness and accrued interest |  |  | 486
Total cash consideration |  |  | $ | 2,857
Fair value of replacement share-based awards(3) |  |  | 42
Total consideration |  |  | $ | 2,899
___________________________________________ (1) Consideration paid to Sovos Brands shareholders which reflects $23.00 per share. (2) Represents cash paid to equity award holders of Sovos Brands restricted stock and restricted stock unit awards attributable to pre-combination service. This excludes $3 million of cash paid that was recognized as expense. (3) We issued replacement equity awards in settlement of certain Sovos Brands equity awards that did not become vested in connection with the acquisition. The portion of fair value of the replacement awards attributable to pre-combination service was $42 million and is included in the purchase consideration. We recognized $26 million of expense related to accelerated vesting of certain replacement awards in the third quarter of 2024.
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | The table below presents the fair value that was allocated to acquired assets and assumed liabilities:
(Millions) |  | Estimated Fair Value |  |
Cash |  | $ | 240 |  |  |
Accounts receivable |  | 96 |  |  |
Inventories |  | 130 |  |  |
Other current assets |  | 5 |  |  |
Plant assets |  | 100 |  |  |
Other intangible assets |  | 1,776 |  |  |
Other assets |  | 16 |  |  |
Total assets acquired |  | $ | 2,363 |  |  |
Accounts payable |  | $ | 96 |  |  |
Accrued liabilities |  | 56 |  |  |
Accrued income taxes |  | 1 |  |  |
Long-term debt |  | 9 |  |  |
Deferred taxes |  | 407 |  |  |
Other liabilities |  | 11 |  |  |
Total liabilities assumed |  | $ | 580 |  |  |
Net assets acquired |  | $ | 1,783 |  |  |
Goodwill |  | 1,116 |  |  |
Total consideration |  | $ | 2,899 |  |  |
Finite-Lived and Indefinite-Lived Intangible Assets Acquired as Part of Business Combination [Table Text Block] | The identifiable intangible assets of Sovos Brands consist of:
(Millions) |  | Type |  | Life in Years |  | Value |  |
Trademarks |  | Non-amortizable |  | Indefinite |  | $ | 1,470 |  |  |
Trademarks |  | Amortizable |  | 20 |  | 76 |  |  |
Customer relationships |  | Amortizable |  | 20 | to | 30 |  | 230 |  |  |
Total identifiable intangible assets |  |  |  |  |  |  |  | $ | 1,776 |  |  |
Business Acquisition, Pro Forma Information [Table Text Block] | The following unaudited summary information is presented on a consolidated pro forma basis as if the Sovos Brands acquisition had occurred on August 1, 2022:
|  |  |  | Three Months Ended |  |
(Millions) |  |  |  | October 29, 2023 |  |  |  |
Net sales |  |  |  | $ | 2,791 |  |  |  |  |
Net earnings attributable to The Campbell's Company |  |  |  | $ | 215 |  |  |  |  |

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(3) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-1 + Details
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